I used to be a vest guy, then a chest pack guy - now I'm a hip pack guy.
I currently own a Patagonia chest pack, a Patagonia vest, and now this - the Simms Headwaters Guide Hip Pack. The thing I really like about this pack is that it sits high on my waist, it carries a ton of gear (almost too much gear), and it has great interior organization. I also like all the exterior tabs for attaching my Fishpond swivel zingers. The large hip belt also has pockets, and makes a great place to store your Fishpond Nomad net.
The other great feature I use is the workspace on the front of the pack. As you open the large clamshell zipper, the front of the pack folds down and creates a deep area with sides that won’t let things fall out. This is perfect for changing flies, adjusting leaders, and grabbing snacks from the pack.
Lastly, there is a great little bottom pocket that I use to store a water bottle, but it could also be used for storing a rain jacket (the only issue I have with the rain jacket option is that when you go deep wading, the bottom of this pack rides on top of the water, which gets the jacket wet). Overall, this is my favorite thing to take on the water.